Capgemini’s World Wealth Report shows limited digital maturity in the wealth management industry, even though 67% of high net worth clients now demand at least partially automated advisory services. 86% of clients under 40 say that digital maturity is a significant factor in deciding whether or not to increase assets with their wealth management firm. Less than half of wealth managers are satisfied with their firm’s technology offerings.

Hedgeable, a robo-advisor that differentiates itself with a combination of active and passive management strategies, used the Brexit aftermath to show off how it outperformed its peers. Its peers would argue that the market has since regained most of its losses, and it’s only been a week. One of the most enduring criticisms of robo-advice is that it has yet to endure a large market downturn, when retail investors panic.

Betterment took the opposite approach to Hedgeable by freezing trading for its clients. While it probably saved them from losing money after markets recovered this week, it may have lost some of its clients trust by not allowing them to change their risk profile.

Financial services firms are exaggerating their use of AI, which has been a hot topic in fintech this year. Many of them are confusing automation with artificial intelligence. Automation is replacing a repetitive task with a machine, and is nothing new. Artificial intelligence replaces judgment-based human decision making, and in many ways is still in its infancy.

One of London Fintech’s thought leaders speaks out after the Brexit, reflecting on the responses he received since posting #Brexit good for UK #FinTech weeks before the vote. He sticks to his choice of long-term self determination over short-term economic stability, underlining the importance of immigration and regulation to London’s fintech industry, with or without the EU.